Nonbank mortgage lender TPG Real Estate Finance Trust has sold off nearly $1 billion worth of commercial real estate debt to fight off margin calls, as it faces a coronavirus-fueled cash crisis. TPG made the disclosure at its first quarter earnings call Tuesday, saying liquidity constraints raise substantial doubt about its ability to continue “as a going concern.” The announcement also follows a lawsuit New York real estate developer Somera Road filed against the lender
source https://therealdeal.com/2020/05/12/tpg-real-estate-finance-sells-off-1b-worth-of-cre-debt/
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